Major support - $1310
Major resistance- $1325 (200 15 min MA)
The yellow metal has broken minor support $1320 yesterday and declined till $1310.89. it is currently trading around $1316.90.
Gold trades slightly above minor trend line resistance $1315 (trend line joining $1320.93 and $1315.25). So slight jump till $1325 is possible.
On the lower side, any violation below $1310 will drag the commodity down till $1305/$1287 (50% retracement $1199 and $1374).
It is good to buy on dips around $1315 -1316 with SL around $1310 for the TP of $1325
Major resistance- $1325 (200 15 min MA)
The yellow metal has broken minor support $1320 yesterday and declined till $1310.89. it is currently trading around $1316.90.
Gold trades slightly above minor trend line resistance $1315 (trend line joining $1320.93 and $1315.25). So slight jump till $1325 is possible.
On the lower side, any violation below $1310 will drag the commodity down till $1305/$1287 (50% retracement $1199 and $1374).
It is good to buy on dips around $1315 -1316 with SL around $1310 for the TP of $1325
